The Weird Channel Deal

Did you see how Clear Channel began saying publicly that the Lee and Bain bailout may never happen? Then, a few days later brinksmanship brought the banks and Clear Channel together to arrive at a lower, more realistic purchase price at $36 a share along with other considerations. Now their fate is in the hands of the shareholders once again.

Leave it to the largest, storied radio group to come up with one of the weirdest sales that has ever graced our industry.

First, Clear Channel honchos do a gut check and find nothing there